![]() ![]() From June to October of 2015, The Wall Street Journal (WSJ) investigated a tip regarding suspicion of the technology’s fidelity and, after a few whistleblowers’ documents, the WSJ published the blockbuster article uncovering the web of lies. The downfall of Holmes and Theranos was similarly rapid, albeit not contained to a single September like Milton. Federal Court for a status hearing on allegedly engaging in a multimillion-dollar scheme to defraud investors. SAN JOSE, CALIFORNIA - JUNE 28: Former Theranos founder and CEO Elizabeth Holmes (C) arrives at the. Holmes was also able to secure significant funding based upon hype with supposedly $92 million in funding by the end of 2010 and a partnership with Walgreens WBA in 2013. For Theranos, the revolutionary product was a blood sampling machine called Edison that could reside at drug stores, autonomously sample a customer’s blood, and provide quick results. Holmes, too, was a charismatic leader who at the peak of Theranos’s $9 billion valuation was 31 years old, and three years later was indicted.Īs documented well in the 2019 HBO documentary The Inventor: Out for Blood in Silicon Valley, Holmes like Milton supposedly perfected the art of “fake it until you make it” and, in both cases, the dishonesty centered around inoperative technology named after a famous scientist. ![]() federal grand jury as the founder and former CEO of Theranos, a Silicon Valley darling that promised to revolutionize health care. This week, Elizabeth Holmes faces two counts of conspiracy and nine counts of wire fraud brought against her by a U.S. federal grand jury including “lying about nearly all aspects of the business.” He has denied the charges, released on a $100 million bail and ordered to remain at one of his two properties in Utah, one of which was appraised at $36 million. Two months ago, Milton was indicted on three counts of criminal fraud and two counts of securities fraud by a U.S.
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